Shares in Container Corporation of India (CONCOR) fell as much as 3 per cent, as the stake sale of the government in the company was currently on.
The stock was last trading at Rs 1199 on the National Stock Exchange. The government set a floor price for the offer for sale (OFS) at Rs 1195. This was marginally higher over the current market price of Rs 1199 of Concor on the BSE.
The sale of 97.48 lakh shares at this floor price would fetch about Rs 1,165 crore to the government. Container Corporation is a market leader having the largest network of 62 ICDs/CFSs in India. In addition to providing inland transport by rail for containers, it has also expanded to cover management of Ports, air cargo complexes and establishing cold-chain.
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